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Sysgration Ltd (5309) Fair Value & Analysis

Technology · TW · Market cap 12.4B TWD (≈ $392M) · ISIN TW0005309009

What is Sysgration Ltd really worth?

SL Sysgration Ltd 5309 · TWO
Price52.00 TWD
Fair Value6.48 TWD
Upside−87.5%
Quality28/100

Structural break: The valuation model sees a lasting decline in earnings power for this stock, the confidence band is broken. Treat the target with caution.

Below-average quality, and trading another 703% above our fair value of 6.48 TWD.

As of Aug 29, 2026, the fair value of Sysgration Ltd is 6.48 TWD per share against a price of 52.00 TWD, so the fair value sits 88% below the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Risks

!Expensive Growth (revenue 5y +20.7 %/yr)
!Thin margins · 1.1% net margin
!Low debt · negative free cash flow
!Trails peers (1/12)
!Narrow moat 22/100
!Evidence only low, so the estimate is less certain
!Weak on dividend: 19 out of 100

For context

·0.96% dividend yield
Evidence: Low Range 4.86 TWD – 8.10 TWD

Fair value as of: Aug 29, 2026

From 12 valuation models · updated 8 days ago

Share price −1.3% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (8.10 TWD). The favourable scenario is already priced in.
  • Weak quality (28/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Price vs Fair Value (5 years)

81.80 TWD 23.64 TWD Fair Value 6.48 TWD Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 29, 2026.

How to read this chart

60‑month range 23.64 TWD – 81.80 TWD · fair‑value band 4.86 TWD – 8.10 TWD · the 52.00 TWD price screens above the 6.48 TWD fair value. Dashed = 300-day average. As of Aug 29, 2026.

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Analysis

Sysgration Ltd (5309) currently trades at 52.00 TWD, while our model-based Fair Value estimate is 6.48 TWD, implying the stock looks roughly 702.6% overvalued today. The Quality Score stands at 28/100 (below-average quality), in the Technology sector. Bull case: the Asset-Based group reads highest at a median of 11.28 TWD per share, and 0 of the 12 models we run sit above the 52.00 TWD price. Bear case: the Earnings-Based group reads lowest at 2.88 TWD, and 12 of the 12 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, Sysgration Ltd generated revenue of 3.4B TWD at a net margin of 1.5%. Revenue declined 1.2% year over year. It earns a return on equity of −0.1%. The balance sheet holds a net cash position of 1.3B TWD. Fundamentals as of Aug 29, 2026

Our scenario range runs from 4.86 TWD (bear case) to 8.10 TWD (bull case); at 52.00 TWD, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 38% below its 52-week high and 58% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at −55% fair-value upside, at −88%, 5309 screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income best evidence 11.71 TWD 11.15 TWD 8.43 TWD 76
EV/EBITDA 16.13 TWD 19.98 TWD 23.82 TWD 67
Growth-Adj P/E 3.72 TWD 5.31 TWD 6.91 TWD 67
All 12 models by family
Earnings-Based
Graham-Dodd 1.57 TWD 7.56 TWD 10.41 TWD 64
Lynch FV 2.02 TWD 2.88 TWD 3.75 TWD 61
PEG = 1.0 2.02 TWD 2.88 TWD 3.75 TWD 57
Dividend Discount
Gordon GGM 5.39 TWD 11.20 TWD 17.77 TWD 66
DDM Multi-Stage 5.39 TWD 9.45 TWD 11.76 TWD 66
Multiples
P/E Multiple 4.86 TWD 6.48 TWD 8.10 TWD 63
P/S Multiple 2.95 TWD 3.94 TWD 4.92 TWD 58
P/B Multiple 2.95 TWD 3.94 TWD 4.92 TWD 55
EV/EBITDA 16.13 TWD 19.98 TWD 23.82 TWD 67
Asset-Based
NCAV (Graham) 8.42 TWD 11.28 TWD 16.84 TWD 54
Economic Profit
Residual Income best evidence 11.71 TWD 11.15 TWD 8.43 TWD 76
Growth Earnings
Growth-Adj P/E 3.72 TWD 5.31 TWD 6.91 TWD 67

Widest divergence: Asset-Based (11.28 TWD) versus Earnings-Based (2.88 TWD). Highest evidence: Residual Income (76).

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Key figures & financial health

P/E ratio 288.9
P/S ratio 4.51 P/E × margin
EPS (TTM) 0.1800 TWD price ÷ EPS = P/E 288.9
Dividend yield 1.0%
Net margin 1.6% FY2025
Return on equity −0.5% TTM
More key figures
Profitability
Return on assets (EBIT) 4.0% avg 5y
Operating margin −7.3% TTM
Growth
Revenue (TTM) 3.4B TWD TTM
Revenue growth (YoY) +7.7% 3y avg −0.1%
EPS growth (YoY) −26.2%
Balance sheet & cash flow
Free cash flow −784M TWD FY2025
Net cash 1.3B TWD FY2023

Figures from reported company fundamentals · as of Aug 29, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 28/100

Of which business quality 34 · Market factors (momentum, volatility) 29

Profitability 21
Margins and returns on capital today
Quality Growth 30
Are margins and returns improving?
Cashflow 24
Earnings quality: real cash, not paper profit
Fin. Strength 88
Balance sheet, leverage, solvency risk
Investment 0
Disciplined investing over empire-building
Low Volatility 48
Calm price path (market factor)
Momentum 20
Price trend over the last 3–12 months (market factor)
52W Momentum 22
Distance to the 52-week high (market factor)
Net Issuance 23
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Sysgration Ltd. manufactures and sells automobile electronics and power management products in Taiwan, Asia, the United States, Europe, and internationally. It also provides internal and external BLE TPMS products; and energy bricks and container based solar energy storage systems.

Full company description

Sysgration Ltd. manufactures and sells automobile electronics and power management products in Taiwan, Asia, the United States, Europe, and internationally. It also provides internal and external BLE TPMS products; and energy bricks and container based solar energy storage systems. In addition, it offers battery pack products, such as power stations, EV battery packs, and UPS LIB packs; power devices comprising power conditioning system, MPPT charger, and charging station; grid-tied ESS, off-grid ESS, and battery cabinet and pack; and power supply and battery backup centralized solutions. Sysgration Ltd. was incorporated in 1977 and is headquartered in Taipei, Taiwan.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Sysgration Ltd reported revenue of 3.4B TWD in FY2025 versus 2.5B TWD in FY2021, a compound +8.4%/yr. Reported net income was 52.9M TWD in FY2025, compounding −13.7%/yr from FY2021.

Growth Quality 52/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
3.4B TWD
Latest YoY
+9.1%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−0.1%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+20.7%
Avg. revenue growth/yr (8Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+10.6%
Value creation/yr (5Y, in TWD) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. Measured in TWD: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
−13.2% · in TWD
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share−14.2%
Dividend yield1.0%
Operating margin (EBIT) Operating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.−7.8% (2020) → −0.7% (2025) · rising
Worst earnings drop80% (2025) · in TWD
Revenue +8.4%/yr
FY21 2.5B TWD
FY22 3.4B TWD
FY23 3.3B TWD
FY24 3.1B TWD
FY25 3.4B TWD
Net income −13.7%/yr
FY21 95.3M TWD
FY22 338M TWD
FY23 255M TWD
FY24 116M TWD
FY25 52.9M TWD

5309 screens 703% overvalued. Compare with Keysight Technologies, Inc →

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Cite: Fair Value Calculator (2026). "Sysgration Ltd Fair Value". https://www.fairvalue-calculator.com/stock/5309.TWO

Peer Group

Scientific & Technical Instruments · 164 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 28 · Bottom 25%
Fair Value upside −88% · Bottom 25%
Return on assets −1% · Below median
Net margin (TTM) 1% · Below median
Operating margin (TTM) −7% · Bottom 25%
Revenue growth 8% · Above median
Dividend yield (TTM) 1.0% · Below median
Debt / equity 0.41× · Higher than 75% of peers

Valuation Multiples vs Scientific & Technical Instruments median · lower = cheaper

P/E (TTM) 288.9× · Pricier than 75% of peers
P/B 3.22× · Pricier than median
P/S (TTM) 3.59× · Pricier than median

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 0
FUTURE39 · sector 29
PAST0 · sector 24
HEALTH80 · sector 98
DIVIDEND19 · sector 21

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Scientific & Technical Instruments stocks, each showing price versus our Fair Value estimate (as of Aug 29, 2026).

Stock Price Fair Value vs Fair Value
Keysight Technologies, Inc KEYS $316.13 $107.22 −66%
Garmin Ltd GRMN $309.98 $139.44 −55%
Teledyne Technologies Incorporated TDY $607.87 $488.95 −20%
Chroma ATE Inc 2360 2,195 TWD 322.57 TWD −85%
Hexagon AB HEXAB kr 99.00 kr 74.09 −25%
MKS Inc MKSI $281.60 $76.00 −73%
AVIC Chengdu Aircraft Company 302132 ¥60.00 ¥24.39 −59%
Fortive Corporation FTV $61.54 $33.48 −46%
Trimble Inc TRMB $56.99 $34.12 −40%
Cognex Corporation CGNX $60.79 $19.25 −68%

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Frequently asked questions

Is Sysgration Ltd (5309) overvalued or undervalued?
As of Aug 29, 2026, our model estimates a fair value of 6.48 TWD versus a price of 52.00 TWD, about −88% upside (overvalued).
What is the fair value of 5309?
Our model-based fair value for Sysgration Ltd is 6.48 TWD (as of Aug 29, 2026), built from audited fundamentals. The current price: 52.00 TWD.
What is the quality score of 5309?
Sysgration Ltd has a Quality Score of 28/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Sysgration Ltd (5309)?
Our model-based price target is the fair value of 6.48 TWD (as of Aug 29, 2026) from 12 valuation models. Cautious scenario 4.86 TWD, optimistic scenario 8.10 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Sysgration Ltd stock forecast for 2026?
Our models put fair value at 6.48 TWD, about −88% upside versus a price of 52.00 TWD (overvalued). Cautious scenario 4.86 TWD, optimistic scenario 8.10 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Sysgration Ltd (5309)?
Sysgration Ltd reported trailing-twelve-month revenue of about 3.4B TWD (latest available figure, as of Aug 29, 2026).
What is the net profit margin of 5309?
The net profit margin of Sysgration Ltd is about 1.5%, meaning it keeps roughly 1.5% of revenue as net income. Based on the latest reported figures.
Does Sysgration Ltd pay a dividend?
Sysgration Ltd currently shows a dividend yield of about 0.96% relative to its recent price (as of Aug 29, 2026).
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